Following the exit of erstwhile CEO Marco Gobbetti, another high profile executive of Burberry is on the way out. Dame Carolyn McCall, who is a non-executive director at Burberry Group Plc, is retiring from her role at the company at the end of the current financial year.
Gobbetti had left for a role at Salvatore Ferragamo, citing a need to be closer to his family. Dame McCall has been on the board of Burberry in the non-executive director’s position since 2014. Her tenure ends in April 2022.
Burberry’s stock price was down earlier but has reclaimed most of its gains and now trades 0.19% lower.
The intraday bounce on the 2025 support preserves the integrity of that price level. Follow-through buying is required to send the price towards the 2091 resistance. If any price advance breaches this level, 2150 and 2186 become the additional upside targets.
On the flip side, 2000 becomes a price target if the 2025 support breaks down. 1950 (30 March low) and 1900 (8 April low) are additional price targets to the south.
